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‘‘(31) to the extent provided in section 25C(f), in
1
the case of amounts with respect to which a credit has
2
been allowed under section 25C.’’.
3
(4) Section 1400C(d), as in effect for taxable
4
years beginning before January 1, 2004, is amended
5
by inserting ‘‘and section 25C’’ after ‘‘this section’’.
6
(5) The table of sections for subpart A of part IV
7
of subchapter A of chapter 1 is amended by inserting
8
after the item relating to section 25B the following
9
new item:
10
‘‘Sec. 25C. Residential energy efficient property.’’.
(d) E
FFECTIVE
D
ATES
.—
11
(1) I
N GENERAL
.—Except as provided by para-
12
graph (2), the amendments made by this section shall
13
apply to expenditures after December 31, 2002, in
14
taxable years ending after such date.
15
(2) S
UBSECTION (
b
)
.—The amendments made by
16
subsection (b) shall apply to taxable years beginning
17
after December 31, 2003.
18
SEC. 2104. CREDIT FOR BUSINESS INSTALLATION OF QUALI-
19
FIED FUEL CELLS AND STATIONARY MICRO-
20
TURBINE POWER PLANTS.
21
(a) I
N
G
ENERAL
.—Subparagraph (A) of section
22
48(a)(3) (defining energy property) is amended by striking
23
‘‘or’’ at the end of clause (i), by adding ‘‘or’’ at the end
24
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HR 6 EAS1S/PP
of clause (ii), and by inserting after clause (ii) the following
1
new clause:
2
‘‘(iii) qualified fuel cell property or
3
qualified microturbine property,’’.
4
(b) Q
UALIFIED
F
UEL
C
ELL
P
ROPERTY
; Q
UALIFIED
5
M
ICROTURBINE
P
ROPERTY
.—Subsection (a) of section 48
6
is amended by redesignating paragraphs (4) and (5) as
7
paragraphs (5) and (6), respectively, and by inserting after
8
paragraph (3) the following new paragraph:
9
‘‘(4) Q
UALIFIED FUEL CELL PROPERTY
;
QUALI
-
10
FIED
MICROTURBINE
PROPERTY
.—For purposes of
11
this subsection—
12
‘‘(A) Q
UALIFIED FUEL CELL PROPERTY
.—
13
‘‘(i) I
N GENERAL
.—The term ‘qualified
14
fuel cell property’ means a fuel cell power
15
plant that—
16
‘‘(I) generates at least 0.5 kilowatt
17
of electricity using an electrochemical
18
process, and
19
‘‘(II) has an electricity-only gen-
20
eration efficiency greater than 30 per-
21
cent.
22
‘‘(ii) L
IMITATION
.—In the case of
23
qualified fuel cell property placed in service
24
during the taxable year, the credit deter-
25
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HR 6 EAS1S/PP
mined under paragraph (1) for such year
1
with respect to such property shall not ex-
2
ceed an amount equal to the lesser of—
3
‘‘(I) 30 percent of the basis of such
4
property, or
5
‘‘(II) $500 for each 0.5 kilowatt of
6
capacity of such property.
7
‘‘(iii) F
UEL CELL POWER PLANT
.—The
8
term ‘fuel cell power plant’ means an inte-
9
grated system comprised of a fuel cell stack
10
assembly and associated balance of plant
11
components that converts a fuel into elec-
12
tricity using electrochemical means.
13
‘‘(iv) T
ERMINATION
.—Such term shall
14
not include any property placed in service
15
after December 31, 2007.
16
‘‘(B) Q
UALIFIED
MICROTURBINE
PROP
-
17
ERTY
.—
18
‘‘(i) I
N GENERAL
.—The term ‘‘quali-
19
fied microturbine property’ means a sta-
20
tionary microturbine power plant which
21
has an electricity-only generation efficiency
22
not less than 26 percent at International
23
Standard Organization conditions.
24
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HR 6 EAS1S/PP
‘‘(ii) L
IMITATION
.—In the case of
1
qualified microturbine property placed in
2
service during the taxable year, the credit
3
determined under paragraph (1) for such
4
year with respect to such property shall not
5
exceed an amount equal to the lesser of—
6
‘‘(I) 10 percent of the basis of such
7
property, or
8
‘‘(II) $200 for each kilowatt of ca-
9
pacity of such property.
10
‘‘(iii)
S
TATIONARY
MICROTURBINE
11
POWER
PLANT
.—The
term
‘stationary
12
microturbine power plant means a system
13
comprising of a rotary engine which is ac-
14
tuated by the aerodynamic reaction or im-
15
pulse or both on radial or axial curved full-
16
circumferential-admission airfoils on a cen-
17
tral axial rotating spindle. Such system—
18
‘‘(I) commonly includes an air
19
compressor, combustor, gas pathways
20
which lead compressed air to the com-
21
bustor and which lead hot combusted
22
gases from the combustor to 1 or more
23
rotating turbine spools, which in turn
24
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HR 6 EAS1S/PP
drive the compressor and power output
1
shaft,
2
‘‘(II) includes a fuel compressor,
3
recuperator/regenerator, generator or
4
alternator, integrated combined cycle
5
equipment, cooling-heating-and-power
6
equipment, sound attenuation appa-
7
ratus, and power conditioning equip-
8
ment, and
9
‘‘(III) includes all secondary com-
10
ponents located between the existing in-
11
frastructure for fuel delivery and the
12
existing infrastructure for power dis-
13
tribution, including equipment and
14
controls for meeting relevant power
15
standards, such as voltage, frequency,
16
and power factors.
17
‘‘(iv) T
ERMINATION
.—Such term shall
18
not include any property placed in service
19
after December 31, 2006.’’.
20
(c) L
IMITATION
.—Section 48(a)(2)(A) (relating to en-
21
ergy percentage) is amended to read as follows:
22
‘‘(A) I
N GENERAL
.—The energy percentage
23
is—
24
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HR 6 EAS1S/PP
‘‘(i) in the case of qualified fuel cell
1
property, 30 percent, and
2
‘‘(ii) in the case of any other energy
3
property, 10 percent.’’.
4
(d) C
ONFORMING
A
MENDMENTS
.—
5
(A) Section 29(b)(3)(A)(i)(III) is amended
6
by striking ‘‘section 48(a)(4)(C)’’ and inserting
7
‘‘section 48(a)(5)(C)’’.
8
(B) Section 48(a)(1) is amended by insert-
9
ing ‘‘except as provided in subparagraph (A)(ii)
10
or (B)(ii) of paragraph (4),’’ before ‘‘the energy’’.
11
(e) E
FFECTIVE
D
ATE
.—The amendments made by this
12
subsection shall apply to property placed in service after
13
December 31, 2002, under rules similar to the rules of sec-
14
tion 48(m) of the Internal Revenue Code of 1986 (as in
15
effect on the day before the date of the enactment of the Rev-
16
enue Reconciliation Act of 1990).
17
SEC. 2105. ENERGY EFFICIENT COMMERCIAL BUILDINGS
18
DEDUCTION.
19
(a) I
N
G
ENERAL
.—Part VI of subchapter B of chapter
20
1 is amended by inserting after section 179A the following
21
new section:
22
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HR 6 EAS1S/PP
‘‘SEC. 179B. ENERGY EFFICIENT COMMERCIAL BUILDINGS
1
DEDUCTION.
2
‘‘(a) I
N
G
ENERAL
.—There shall be allowed as a deduc-
3
tion for the taxable year an amount equal to the energy
4
efficient commercial building property expenditures made
5
by a taxpayer for the taxable year.
6
‘‘(b) M
AXIMUM
A
MOUNT OF
D
EDUCTION
.—The amount
7
of energy efficient commercial building property expendi-
8
tures taken into account under subsection (a) shall not ex-
9
ceed an amount equal to the product of—
10
‘‘(1) $2.25, and
11
‘‘(2) the square footage of the building with re-
12
spect to which the expenditures are made.
13
‘‘(c) Y
EAR
D
EDUCTION
A
LLOWED
.—The deduction
14
under subsection (a) shall be allowed in the taxable year
15
in which the construction of the building is completed.
16
‘‘(d) E
NERGY
E
FFICIENT
C
OMMERCIAL
B
UILDING
17
P
ROPERTY
E
XPENDITURES
.—For purposes of this section—
18
‘‘(1) I
N GENERAL
.—The term ‘energy efficient
19
commercial building property expenditures’ means an
20
amount paid or incurred for energy efficient commer-
21
cial building property installed on or in connection
22
with new construction or reconstruction of property—
23
‘‘(A) for which depreciation is allowable
24
under section 167,
25
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HR 6 EAS1S/PP
‘‘(B) which is located in the United States,
1
and
2
‘‘(C) the construction or erection of which is
3
completed by the taxpayer.
4
Such property includes all residential rental prop-
5
erty, including low-rise multifamily structures and
6
single family housing property which is not within
7
the scope of Standard 90.1–1999 (described in para-
8
graph (2)). Such term includes expenditures for labor
9
costs properly allocable to the onsite preparation, as-
10
sembly, or original installation of the property.
11
‘‘(2) E
NERGY EFFICIENT COMMERCIAL BUILDING
12
PROPERTY
.—For purposes of paragraph (1)—
13
‘‘(A) I
N GENERAL
.—The term ‘energy effi-
14
cient commercial building property’ means any
15
property which reduces total annual energy and
16
power costs with respect to the lighting, heating,
17
cooling, ventilation, and hot water supply sys-
18
tems of the building by 50 percent or more in
19
comparison to a reference building which meets
20
the requirements of Standard 90.1–1999 of the
21
American Society of Heating, Refrigerating, and
22
Air Conditioning Engineers and the Illu-
23
minating Engineering Society of North America
24
using methods of calculation under subpara-
25
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HR 6 EAS1S/PP
graph (B) and certified by qualified profes-
1
sionals as provided under paragraph (5).
2
‘‘(B) M
ETHODS
OF
CALCULATION
.—The
3
Secretary, in consultation with the Secretary of
4
Energy, shall promulgate regulations which de-
5
scribe in detail methods for calculating and
6
verifying energy and power consumption and
7
cost, taking into consideration the provisions of
8
the 2001 California Nonresidential Alternative
9
Calculation Method Approval Manual. These reg-
10
ulations shall meet the following requirements:
11
‘‘(i) In calculating tradeoffs and en-
12
ergy performance, the regulations shall pre-
13
scribe the costs per unit of energy and
14
power, such as kilowatt hour, kilowatt, gal-
15
lon of fuel oil, and cubic foot or Btu of nat-
16
ural gas, which may be dependent on time
17
of usage.
18
‘‘(ii) The calculational methodology
19
shall require that compliance be dem-
20
onstrated for a whole building. If some sys-
21
tems of the building, such as lighting, are
22
designed later than other systems of the
23
building, the method shall provide that
24
either—
25
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HR 6 EAS1S/PP
‘‘(I) the expenses taken into ac-
1
count under paragraph (1) shall not
2
occur until the date designs for all en-
3
ergy-using systems of the building are
4
completed,
5
‘‘(II) the energy performance of
6
all systems and components not yet de-
7
signed shall be assumed to comply
8
minimally with the requirements of
9
such Standard 90.1–1999, or
10
‘‘(III) the expenses taken into ac-
11
count under paragraph (1) shall be a
12
fraction of such expenses based on the
13
performance of less than all energy-
14
using systems in accordance with
15
clause (iii).
16
‘‘(iii) The expenditures in connection
17
with the design of subsystems in the build-
18
ing, such as the envelope, the heating, ven-
19
tilation, air conditioning and water heating
20
system, and the lighting system shall be al-
21
located to the appropriate building sub-
22
system based on system-specific energy cost
23
savings targets in regulations promulgated
24
by the Secretary of Energy which are equiv-
25
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HR 6 EAS1S/PP
alent, using the calculation methodology, to
1
the whole building requirement of 50 per-
2
cent savings.
3
‘‘(iv) The calculational methods under
4
this subparagraph need not comply fully
5
with section 11 of such Standard 90.1–
6
1999.
7
‘‘(v) The calculational methods shall be
8
fuel neutral, such that the same energy effi-
9
ciency features shall qualify a building for
10
the deduction under this subsection regard-
11
less of whether the heating source is a gas
12
or oil furnace or an electric heat pump.
13
‘‘(vi) The calculational methods shall
14
provide appropriate calculated energy sav-
15
ings for design methods and technologies not
16
otherwise credited in either such Standard
17
90.1–1999 or in the 2001 California Non-
18
residential Alternative Calculation Method
19
Approval Manual, including the following:
20
‘‘(I) Natural ventilation.
21
‘‘(II) Evaporative cooling.
22
‘‘(III) Automatic lighting controls
23
such as occupancy sensors, photocells,
24
and timeclocks.
25
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HR 6 EAS1S/PP
‘‘(IV) Daylighting.
1
‘‘(V) Designs utilizing semi-condi-
2
tioned spaces that maintain adequate
3
comfort conditions without air condi-
4
tioning or without heating.
5
‘‘(VI) Improved fan system effi-
6
ciency, including reductions in static
7
pressure.
8
‘‘(VII) Advanced unloading mech-
9
anisms for mechanical cooling, such as
10
multiple or variable speed compressors.
11
‘‘(VIII) The calculational methods
12
may take into account the extent of
13
commissioning in the building, and
14
allow the taxpayer to take into account
15
measured performance that exceeds
16
typical performance.
17
‘‘(C) C
OMPUTER SOFTWARE
.—
18
‘‘(i) I
N
GENERAL
.—Any calculation
19
under this paragraph shall be prepared by
20
qualified computer software.
21
‘‘(ii) Q
UALIFIED
COMPUTER
SOFT
-
22
WARE
.—For purposes of this subparagraph,
23
the term ‘qualified computer software’
24
means software—
25
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